I completely agree with your three golden rules for consistent trading success. Sticking to one strategy helps build expertise, maintaining a trading journal fosters self-reflection and learning, and staying consistent allows you to navigate the ups and downs. Keeping a logical approach is essential for long-term success!
Hey Angel! I love your three golden rules for trading! Sticking to one strategy and focusing on money management really makes a difference. Keeping a trading journal helps you learn from mistakes, and staying consistent with your research boosts your confidence. Great insights!
For me, it is risk management, trade with a plan/goal and keeping emotions in check.
Here’s a personal take on the rules:
- Don’t Overtrade: I’ve learned the hard way that forcing trades just to stay active doesn’t pay off. Now, I wait for the setups that really fit my strategy and only jump in when it feels right.
- Manage Your Emotions: I try to keep my emotions in check during trades. When fear or greed creep in, I remind myself to stay calm and stick to my plan. It makes a huge difference!
- Set Realistic Goals: I focus on setting small, achievable goals instead of chasing after huge wins. This helps me stay motivated and feel good about my progress, no matter how small.
The 3rd rule is what stuck to me… having a hard time dealing with that part of trading hopefully other traders sharing their experiences or tips like you will help me overcome it.
- Risk Management: Don’t gamble with your money, only risk what you can afford to lose.
- Have a Plan: Always know your entry, exit, and stop-loss before jumping in.
- Emotions Control: Keep your cool. Don’t let fear or greed mess with your strategy.
I agree with you. We need to be alert
Very correct… Love it